SmartCentres REIT

SmartCentres Real Estate Investment Trust (REIT) is one of Canada's largest fully integrated real estate investment trusts, focusing on retail real estate. Headquartered in Vaughan, Ontario, the company owns and operates approximately 195 properties valued at around $11.9 billion, covering about 35.3 million square feet of leasable space with a high occupancy rate of 98.7% as of 2024. SmartCentres is known for its strong presence in suburban power centres, with Walmart as the lead anchor tenant in about 72% of its properties. The REIT is diversifying into urban and mixed-use developments, including significant projects like the Vaughan Metropolitan Centre and StudioCentre in Toronto. It offers retail real estate leasing services and develops mixed-use properties that combine residential, commercial, and retail spaces. Additionally, SmartCentres supports innovative retail logistics solutions, such as "Penguin Pick-Up" locations for convenient online delivery pick-up. The company maintains a stable tenant base, primarily consisting of financially strong essential service providers.